Colosseum a.s. (Colosseum a.s.)
Commodities  |  April 02, 2013 18:24:28

Copper fell in response to information about high unemployment in the EU

ColosseumHigh unemployment in the EU, high inventories and lower than expected economic growth in China, all pushing down the price of copper. Unemployment in the EU has risen to a record 12 percent at the beginning of this year. The March index of industrial production (50.9) in China fared worse than expected by analysts polled by Bloomberg (51.2). LME copper inventories rose by 0.2 percent to 571,125 metric tons. The May copper contract weakened this morning by 0.3 percent to $ 3.3645 per pound on the London Stock Exchange.

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